UPL Reports Two-Fold Increase in Q4 Profit

UPL Limited, an Indian multinational manufacturer of agrochemicals & chemicals, announced its results for the quarter and financial year ended 31 March 2020.

The company posted 146.80% year-on-year rise in net profit at Rs 617 crore ($81.9 million) for the quarter ended March 31. It had posted a net profit of Rs 250 crore ($33.2 million) in the prior-year quarter.

The company’s quarterly profit more than doubled in the March quarter, aided by growth in Latin America and India markets.

Revenue from operations for Q4 2019-20 increased 30.68% to Rs 11,162 crore ($1.48 billion) as against Rs 8,573 crore ($1.14 billion) in the prior-year quarter.

Full-Year Results

For the fiscal year 2019-20, the company’s net profit increased 19.1% to Rs 1,776 crore ($235.9 million) from Rs 1,491 crore ($198 million) in 2018-19.

Total revenue from operations during the year rose to Rs 35,860 crore ($4.76 billion) from Rs 22,077 crore ($2.93 billion) in the previous year.

Net debt of the company stood at Rs 22,060 crore ($2.93 million) as of March compared with Rs 26,460 crore ($3.51 billion) a year ago. UPL had last month forecast its debt at $2.9 billion as on March 31, down $900 million from a year earlier.

The company has cash and cash equivalents of $875 million as of March 2020.

UPL’s board recommended a dividend of Rs 6 ($0.08) per share last Friday.